Congress must bar interest on payment stablecoins to avoid harming Main Street lending

TL;DR:

Allowing crypto exchanges and other intermediaries to offer yield-like incentives on payment stablecoins would pose significant risks to local economies, argues Kevin Paintner, chairman of the Independent Community Bankers of America’s Digital Assets Subcommittee.

Key Points:

Background:

Cryptocurrency markets continue to evolve with new developments affecting the broader digital asset ecosystem.

Why It Matters:

This development could influence UNI price action and market sentiment in the near term.